F.

I think your theory needs to look at the global macroeconomy.  1929-1933 was a deflationary depression and house prices went down.  We are currently in an inflationary situation.  Property prices will increase exponentially if we go from inflation, high inflation to hyperinflation e.g. Zimbabwe property prices and stock market.  The price of all asset classes are rising globally (check out the price of commodities).   Do you recall how much your bus fare, food, medical insurance et. al. was last year and how much it is this year?  I worked out that it was higher than the faux CPI index published by the Aus Government.  Personally, I believe that the reason house prices in Australia have not crashed yet is because the RBA is priming the M3 monetary and credit pumps. I recall M3 went from 10% in 2005 to 14.5% in 2007.   Those with large housing debts may be able to inflate it away but I doubt if your rents will be able to keep up with the inflation. However, after hyperinflation is deflationary depression.